The threat intelligence platform market is anticipated to touch $234.9 million by 2022 – with a CAGR of almost 21%.
The rising complexities and volume spanning the worldwide cyber threats bring a compelling case and business-wide awareness to adopt threat intelligence solutions. These tools can help enterprises to navigate through the ever-surging cyber threat landscape.
Even CIOs can easily analyze the market for threat intelligence operationalization with such intelligent platforms. The market is a critical part of the cybersecurity space, has been least affected by the global pandemic.
As a result, the market share is projected to go up to $234.9 million by the end of 2022 – from only $132.7 million in 2019. This has been claimed by a recent research study from Frost & Sullivan where the compounded annual growth rate for the duration is about 21%.
In this context, Mikita Hanets, Research Analyst for Information & Communication Technologies at Frost & Sullivan explains – “Vendors increasingly aim to offer some elements of TIP functionality in SOAR and SIEM platforms and vice versa. Going forward, solutions that enable businesses to operationalize threat-related data and set up workflows for cyber incidents will converge in the next three years.”
The evolution of the threat intelligence solution use-cases points to the convergence of the advanced technology environment along with its adjacent marketplace. The study also shows that North America will lead the market – contributing to the maximum revenue.
This fact is followed by Europe, the EMEA region, the APAC market, and Latin America. Within the next two years, telecommunications, as well as the technology sector, will be the fastest-growing market for threat intelligence platform vendors.
However, the banking and finance sector is estimated to contribute the most by 2022. With this rapid progress of sophisticated cyber-attacks across the business, there is an obligation of consuming threat intelligence solutions for companies.
Consequently, the proactive cyber defense is a sign of the vast growth prospects for those market participants who –
- Develop their presence in the regions where the market penetration rate is comparatively low – including EMEA, APAC, as well as Latin America
- Spread out the third-party network SOAR integrations or advance the native SOAR capabilities. Firms with enhanced cyber-security practices involve intelligence-powered SOAR.
- Amplify SIEM competencies to offer intelligence-driven, seamless tools. The threat intelligence platform vendors can create their data management experience in order to offer a wholly consolidated solution.
- Acquire and develop intelligence-driven security exposure and threat management technology. The capacity to assess an organization’s vulnerability and the risk to its sensitive data is a serious factor of the next-gen technology solutions.
Clearly, developing the threat detection and risk hunting abilities can offer businesses to investigate security incidents promptly. Threat intelligence is undoubtedly instrumental while securing enterprise assets because it enables security professionals to prevent cyber-attacks and to identify a data breach from the past. It is feasible to get done in real-time.